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Speaker 1: Live from the Bloomberg Interactive Brooker's Studios. This is Bloomberg

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Speaker 1: day Break for Monday, October two. Coming up this hour,

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Speaker 1: stocks tick lower following a volatile week on Wall Street.

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Speaker 1: Investors await key inflation data and the kickoff of earning season.

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Speaker 1: Good earning sends stocks even lower. We'll have the results

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Speaker 1: of a Bloomberg poll and Rockets strike keif after Vladimir

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Speaker 1: Plutin blames you Craine for targeting a crucial bridge to

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Speaker 1: CRIMEA shots rang out near the Long Island home of

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Speaker 1: Republican Booblin Etorio candidate leaves Elbot plus demonstrations growing the

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Speaker 1: run involving the so called morality police. On Michael larn More,

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Speaker 1: I'm Stationwar Sports. The Mets season is over, shut out

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Speaker 1: by the Padres of the decisive game three wins with

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Speaker 1: the Giants and Jets. That's All's train ahead on Bloomberg

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Speaker 1: day Break on Bloomberg eleven three on New York, Bloomberg one, Washington,

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Speaker 1: d C, Bloomberg one oh six one, Boston, Bloomberg nine

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Speaker 1: sixties and Francisco Sirius x AM one nine Team and

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Speaker 1: around the World Old on Bloomberg Radio dot Com and

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Speaker 1: via the Bloomberg Business. Good morning, I'm Nathan Hagar and

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Speaker 1: I'm Karen Moscow, u ust On indext futures are lower

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Speaker 1: this morning. We are coming up to six oh one

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Speaker 1: on Wall Street and we check the markets every fifteen

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Speaker 1: minutes throughout the trading day. On Bloomberg. S and P

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Speaker 1: future is down about five points right now. DAL futures

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Speaker 1: down eight and NASTAGG futures down at twenty four. And

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Speaker 1: there is no trading on the bond market today. It's

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Speaker 1: closed and observance of Columbus Day and Indigenous People's Day.

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Speaker 1: Nimix Screwed oil is down six tenths of uper sent

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Speaker 1: Nathan and Karen, we begin with news that broke about

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Speaker 1: ten minutes ago. Former FED Chairman Ben Bernankey, along with

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Speaker 1: Douglas Diamond and Philip Divvig, have been awarded the two

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Speaker 1: Nobel Prize in Economics for research on banks and financial crises.

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Speaker 1: The three are all US based economists and will share

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Speaker 1: the nine hundred thousand dollar reward. Well, we turned to

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Speaker 1: the markets, Nathan, and as I said just moments ago,

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Speaker 1: futures are lower as we begin a new trading week.

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Speaker 1: The S and P five hundred is started last week

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Speaker 1: with its biggest two day alley since the onset of

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Speaker 1: the pandemic, only to fall in the final three days,

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Speaker 1: capped off by Friday's jobs report. Investors are vetting the

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Speaker 1: Fed will continue with aggressive hiking trail. Brian Jacobson has

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Speaker 1: senior investment strategist at all Spring Global Investments. You know

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Speaker 1: Net Davis was famous for a lot of his wisdom,

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Speaker 1: the trend is your friend, and don't fight the Fed.

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Speaker 1: But now you can kind of paraphrase it by saying,

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Speaker 1: don't fight the trend because the Fed isn't your friend

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Speaker 1: and the trend, unfortunately, is towards weakness. All Spring Global

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Speaker 1: Investments Brian Jacobson believes the Fed will keep going with

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Speaker 1: hawkish policy tightening me and Asia Karen shares tumble tomid

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Speaker 1: intensifying concern over rising global interest rates, and as Chinese

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Speaker 1: investors returned from a week long holiday to tighter restrictions

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Speaker 1: on American technology. Let's get the recap from Bloomberg's Juliette

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Speaker 1: Sally in Singapore. Good morning, Nathan and Karen. Chinese stokes

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Speaker 1: fail on their return from the Golden Week holiday. Hut

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Speaker 1: by a global equity seale off and blake holiday spending

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Speaker 1: data that deepened concerns about the economic recovery. The cs

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Speaker 1: I three hundred was training at April twenty twenty lows.

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Speaker 1: Tech dogs fell amid renewed Signo US tensions with the

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Speaker 1: Hang Seng Tech indexit January twenty nineteen lows, they'll show

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Speaker 1: you one strengthened after the p BOC set are stronger,

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Speaker 1: you want fixed For a record twenty eight day, the

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Speaker 1: Ossie dollar fell to April twenty twenty lows. Markets in Japan,

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Speaker 1: South Korea and Taiwan were closed in Singapore. Juliet Sally

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Speaker 1: Bloomberg daybreak. All right, Juliet, thank you. Our stocks are

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Speaker 1: also following in Europe to begin the week, and we

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Speaker 1: go to London and get the leaders for the Bloombergs.

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Speaker 1: You and parts you and good morning, Good morning Nathan

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Speaker 1: and Karen A Gloomy started trading here in Europe as well,

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Speaker 1: with every major stock markets in the red this morning.

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Speaker 1: Consumer products, tech and utilities among the mixed bag of

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Speaker 1: sectors for feeling the precious most so far. The Bank

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Speaker 1: of England, meanwhile, says it's stepping up its support for

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Speaker 1: the UK bond market, which sold off after the government's

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Speaker 1: disastrous mini budget statements. The bank's aim is to provide

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Speaker 1: longer term support for a wider range of securities over

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Speaker 1: the coming weeks. In London, I'm you and pot Spoinberg Daybreak,

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Speaker 1: All right you and thanks. Back here in the u

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Speaker 1: S Alian's chief economic advisor Muhammad al Arians continuing his

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Speaker 1: criticism of the FED. He's blaming the Central Bank for

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Speaker 1: what he calls the very high risk of a recession.

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Speaker 1: Not only does it have to overcome inflation, but it

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Speaker 1: has to restore credibility. So yes, I fear that we

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Speaker 1: with a very high probability of a damaging recession that

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Speaker 1: was totally avoidable. Alian's chief economic advisor and Bloomberg contributor,

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Speaker 1: Muhammad al Arian made the comments on CBSS Face the Nation,

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Speaker 1: Catch the program Sundays on Bloomberg Radio. Well on the

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Speaker 1: economic front this week, Nathan Magame minutes from the FED

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Speaker 1: September meeting, as well as key readings on inflation. The

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Speaker 1: Producer Price Index comes out on Wednesday, followed by consumer

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Speaker 1: prices on Thursday. Earning season begins this week too, when

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Speaker 1: we get a preview from Bloomberg's Turnley Pellet Banks including JP,

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Speaker 1: Morgan Chase, City Group, Wells Fargo, and Morgan Stanley will

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Speaker 1: be front and centator as companies report third quarter results

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Speaker 1: amid a rising rate environment, higher energy costs, and geopolitical uncertainty.

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Speaker 1: Jessica Biemer is poor folio manage to with easterly investment partners.

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Speaker 1: I'm actually really excited to share from companies because they

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Speaker 1: are able to really give us obviously some perhaps short

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Speaker 1: term negatives, but long term guidance on how they plan

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Speaker 1: to react to the current environment that tends to be

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Speaker 1: a good thing for stocks. This week will also hear

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Speaker 1: from black Rock, Delta Airlines, PepsiCo p n C, and

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Speaker 1: United Health in New York Charlie Pellock Bloomberg day Break.

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Speaker 1: Thanks Charlie. The investors don't expect this earning season to

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Speaker 1: be a pretty one. More than six of respondence to

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Speaker 1: the latest Bloomberg m Live Pulse survey say earnings will

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Speaker 1: push the SNP even lower. About half of pull participants

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Speaker 1: also expect equity valuations to pull back even further from

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Speaker 1: their average of the past decade. A strong dollar is

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Speaker 1: also likely to be a head wind during this earning season,

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Speaker 1: Nathan As. According to strategist at Goldman Sachs, who say

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Speaker 1: US companies generated thirty percent of revenues overseas. The bank

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Speaker 1: also says elevated inflation and high inventories pose risk to earnings.

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Speaker 1: In geopolitical news, karen Kiev has been hit by explosions

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Speaker 1: this morning, two days after an attack on a key

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Speaker 1: bridge between Crimea and Russia. Ukrainian official says at least

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Speaker 1: eight people have been killed in another twenty four wounded

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Speaker 1: in today's strikes. Russian President Vladimir Putin is blaming Ukraine

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Speaker 1: for the bridge attack. He meets with a security council today.

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Speaker 1: Ukrainian President Vladimir Zolenski appeared to make a not so

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Speaker 1: subtle mention of the bridge attack and his daily address

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Speaker 1: today was a good and mostly sunny day on the

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Speaker 1: territory of our state. Unfortunately it was cloudy in Crimea,

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Speaker 1: although it is also warm. But no matter how cloudy

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Speaker 1: it is, Ukrainians know what to do and they know

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Speaker 1: that our future is sunny. Ukrainian President Vladimir Zolenski spoke

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Speaker 1: there through a translator. Well. On another geo political flash point,

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Speaker 1: Nathan Taiwan says there will be no compromise on its

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Speaker 1: sovereignty or democracy. That came hours after Elon must tweeted

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Speaker 1: that the self rude island should adopt a Hong Kong

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Speaker 1: style governance model. China's hailing the idea, but Taiwan President

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Speaker 1: Cyan Waan says Beijing should not make any misjudgment on

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Speaker 1: accounted I want to be or risk democratic system SMP

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Speaker 1: futures right now are down five points, down, futures down

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Speaker 1: seventeen and NASTAC futures are lower by thirty points. No

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Speaker 1: treasury trading today. It is a federal holiday and observance

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Speaker 1: of Columbus Day and Indigenous People's Day. Straight ahead, your

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Speaker 1: latest local headlines and a check of sports. This is

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Speaker 1: Bloomberg and it is down six oh seven on Wall

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Speaker 1: Street where fifty two degrees in Central Park. We gotta

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Speaker 1: crash westbound Belt Parkway and Merrick Boulevard. Michael Barr has

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Speaker 1: more on what's going on in New York and around

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Speaker 1: the world. Michael, thank you very much. Nathan. Police say

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Speaker 1: there's no apparent connection between a shooting outside Lee's Elden's

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Speaker 1: home in Shirley Long Island Sunday afternoon and the Republican

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Speaker 1: nominee for New York governor. Investigators say two teenage boys

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Speaker 1: tried to hide under Zelden's front porch after the drive

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Speaker 1: bon shooting. Elden's has his twin teenage daughters were home

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Speaker 1: at the time, and when they heard the gunshots, they

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Speaker 1: locked themselves in a bathroom and called nine one one.

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Speaker 1: Speaking to reporters outside his home, the New York congressman

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Speaker 1: said the shooting is representative of a larger problem with society.

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Speaker 1: At what point are we supposed to talk about the

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Speaker 1: crime on our own streets. I'm standing in front of

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Speaker 1: crime scene tape in front of my own house. You

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Speaker 1: can't get me more outraged than right now. Congressman's Elden's

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Speaker 1: has his security cameras photographed to people the two people

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Speaker 1: shot for taking to hospitals. More Republicans are pledging support

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Speaker 1: for Herschel Walker, the Senate GOP candidates in Georgia, is

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Speaker 1: facing fallout over reports that he once paid for an

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Speaker 1: ex girlfriend's abortion. The Republican Senatorial Committee chair, Senator Rick Scott,

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Speaker 1: will campaign with Walker, who is a staunch anti abortion candidate.

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Speaker 1: Democratic Senator Raphael Warnock holds a slight lead in the

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Speaker 1: polls in the state violent anti government protests are intensifying

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Speaker 1: and spreading it around. Sparked by anger over the killing

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Speaker 1: of a woman who was arrested by the so called

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Speaker 1: morality police and then dying in police custody. The protest

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Speaker 1: us starting four weeks ago with the death of twenty

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Speaker 1: two year old Masha Cominy for allegedly wearing her her

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Speaker 1: job improperly. One woman protesting in Iran says enough is enough. Meanwhile,

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Speaker 1: Iran analysts Holly Dagrus says, these demonstrations are extraordinary. They're

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Speaker 1: changing death to the dictator, death to hominy. They're removing

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Speaker 1: their head scarves. There's been viral videos of Iranian girls

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Speaker 1: flipping the bird at the supreme meter of Iran's photo

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Speaker 1: or stomping on his photoing classrooms. Analysts Holly Dagrus. North

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Speaker 1: Korean leader Kim John said he launched a new ballistic

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Speaker 1: missile and simulated tactical nuclear strikes during recent military drills.

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Speaker 1: It is the latest sign that North Korea is preparing

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Speaker 1: for its first atomic test in five years. Global News

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Speaker 1: twenty four hours a day on air and on Bloomberg Quicktake,

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Speaker 1: powered by more than journalists and analysts more than a

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Speaker 1: hundred twenty countries. Michael Barron, this is Bloomberg Naked. Thanks Michael,

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Speaker 1: going up to a six ten on Wall Street. Time

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Speaker 1: for the Bloomberg Sports Update with John Stetshow all right, Nathan.

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Speaker 1: Only one Mets team in their history won more games

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Speaker 1: than this one. That was six, which also happens to

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Speaker 1: be the last time the Mets won the World Series.

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Speaker 1: This team won a hundred and one games, where that

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Speaker 1: was not enough to even win the division, and the

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Speaker 1: concern was that the Mets were now I'm gonna have

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Speaker 1: to play a short, best of three wild card series

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Speaker 1: where they could run into some good pitching and be

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Speaker 1: out quickly. And that's exactly what happened the Padres You

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Speaker 1: Darvish shut him down in Game one, and Joe musgro

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Speaker 1: was dominant last night's Game three. In fact, his stat

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Speaker 1: line seven scoreless innings, only one hit allowed, the best

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Speaker 1: in postseason history. In a winner take all games, San

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Speaker 1: Diego won six to nothing to advance to play the Dodgers.

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Speaker 1: The Yankees Game one with Cleveland at the stadium tomorrow night.

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Speaker 1: Yanks had a mandatory workout last Friday. The oldest Chapman

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Speaker 1: did not show up. There was talk the Yanks for

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Speaker 1: not going to put them on their playoff roster, and

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Speaker 1: now they definitely won't. Chapman's gonna be a free agent,

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Speaker 1: so safe to say his Yankee career is over. As

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Speaker 1: for New York football, the Jets of three and two,

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Speaker 1: first times the two has seventeen. They blew out in

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Speaker 1: Miami forty to seventeen for their first home win, their

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Speaker 1: first win within the a f C East in almost

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Speaker 1: three years. Rookie running back Breece Hall rush for nineties

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Speaker 1: seven yards, also had a seventy nine yards reception. The

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Speaker 1: Giants are four and one. They went four in thirteen

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Speaker 1: last seas and in London they came from two touchdowns

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Speaker 1: down against the package six twenty three to go, game

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Speaker 1: tied at twenty first and Gold Giants at the two

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Speaker 1: wildcat formation with Parkley and right Well. This time Jones

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Speaker 1: lined up loud take one, takes the stops take one.

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Speaker 1: Thousan outside quartly said for the touchdown, how the Giants

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Speaker 1: Giants then stopped Green Bay in a late drive and

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Speaker 1: won twenty seven. John stashillar Bloomberg Sports Movement, Kicky John

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Speaker 1: SMP futures down down seven points down futures down thirty two.

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Speaker 1: NASTAC futures are lower by forty points up. Next, the

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Speaker 1: latest from Ukraine after a barrage of missile strikes on

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Speaker 1: key cities. We get the very latest with Bloomberg's executive

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Speaker 1: editor for International Government meant Rosalind Matheson. You're listening to

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Speaker 1: Bloomberg Daybreak, Bloomberg eleven three oh Whether these clouds will

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Speaker 1: be followed by sunshine this afternoon up for sixties for

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Speaker 1: highs will be Sunday tomorrow near seventy degrees and partial

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Speaker 1: sunshine high near seventy for Wednesday. Right now fifty two

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Speaker 1: in Central Park markets, headlines and breaking news twenty four

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Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg Business

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Speaker 1: Out and at Bloomberg Victap this is a Bloomberg Business

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Speaker 1: lash and I'm Karen. Moscow and European stocks are lower

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Speaker 1: for a fourth strade day. US dot Index Future is

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Speaker 1: also declining as concerns amount that central bank policy tightening

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Speaker 1: was said to take a heavy toll on the global

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Speaker 1: economy and company earnings. We check the markets every fifteen

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Speaker 1: minutes throughout the trading day on Bloomberg. Right now, SMP

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Speaker 1: futures are down nine points down, futures down forty one,

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Speaker 1: nasday futures down forty three, and the docks in Germany

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Speaker 1: is moving higher. It's up about half percent. There's no

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Speaker 1: trading on the treasury markets today in the US. That

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Speaker 1: is due to the Columbus Day and Indigenous People's Day holidays.

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Speaker 1: Nimex screwed oil is down six tents of a percent

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Speaker 1: on fifty three cents and ninety two dollars eleven cents

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Speaker 1: of barrel. Comex gold down one point four percent on

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Speaker 1: twenty three dollars, forty cents and s nine announced euro

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Speaker 1: point nine seven oh three against the dollar, British pound

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Speaker 1: one point one zero seven zero and again one forty

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Speaker 1: five point four five. Look at it bitcoin, it's down

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Speaker 1: eight tens of percent in nineteen thousand and three hundred dollars.

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Speaker 1: That's a Bloomberg business flash. Now here's Michael Barr with

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Speaker 1: more on what's going on around the world. Michael Karen,

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Speaker 1: thank you very much. Several explosions were heard in Ukraine's

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Speaker 1: capital city, Keyev today. It comes as Russian leader of

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Speaker 1: Vladimir Putin will meet with its top security officials in

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Speaker 1: Moscow following the bombing of Europe's longest bridge linking annexed

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Speaker 1: Crimea to the Russian mainland. The Nobel Prize in econ

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Speaker 1: Comics Sciences was jointly awarded to former FED chair member

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Speaker 1: Nack Douglas Diamond and Philip di Big for research on

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Speaker 1: banks and financial crisis. In baseball, the season is over

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Speaker 1: four the Mets. They lost to the Padres six zip

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Speaker 1: in the deciding Game three of their NL wild Card series.

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Speaker 1: In football, the Giants lost in London, the Jets one,

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Speaker 1: along with the Patriots, Ravens and forty nine years the

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Speaker 1: Commanders lost. I am so sorry the Giants one in London.

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Speaker 1: I am my apologies. On that Global News twenty four

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Speaker 1: hours a day on air and on Bloomberg quittake power

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Speaker 1: by more than twenty seven hundred journalists analysts in more

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Speaker 1: than a d twenty countries. On Michael Barr and this

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Speaker 1: is Bloomberg, Nathan blamed the time change. Thank you, Michael,

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Speaker 1: six nineteen on Wall Street Life from the Bloomberg Interactive

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Speaker 1: Broker Studios. This is Bloomberg day Break. We want to

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Speaker 1: get you the latest now on the war in Ukraine,

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Speaker 1: where Russia has hit key of and other major cities

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Speaker 1: with what may be the most intense missile barrage since

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Speaker 1: the invasion began in February, coming a day after Vladimir

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Speaker 1: Putin in Ukraine for an attack on a landmark bridge

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Speaker 1: to Crimea. Joining US now is Rosalind Mathison, Bloomberg News

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Speaker 1: executive editor for International Government Rise. It feels like this

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Speaker 1: attack on the Crimean bridge is serving as something of

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Speaker 1: a pivot point in this war. What is the latest?

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Speaker 1: We have a lot of developments coming in just the

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Speaker 1: last few minutes. Well, certainly we can see the pattern

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Speaker 1: of escalation coming here from the Russian president and that's

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Speaker 1: because his forces have been on the back foot on

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Speaker 1: the ground in Ukraine for some months now. We've sent

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Speaker 1: a successful counter offensive by Ukraine in the east and

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Speaker 1: some advancements made in the south, and that's really bogged

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Speaker 1: his war down. He's announced a partial mobilization, he's announced

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Speaker 1: the annexation of areas of Ukraine that are occupied by Russia,

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Speaker 1: but he's still struggling for traction. And now, really this

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Speaker 1: prestige blow with this big fire ball that hit this

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Speaker 1: bridge that links Crimea to the Russian mainland on the weekend.

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Speaker 1: And that's a that's a bridge that really himself endorsed.

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Speaker 1: He opened it by driving a truck over it after

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Speaker 1: it was built, and it's an essential logistical link between

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Speaker 1: Crimea and Russia, and certainly for the war and the

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Speaker 1: fact that it was that it was hit Ukraine is

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Speaker 1: of course has not claimed responsibility is a big setback.

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Speaker 1: So we're seeing retaliation essentially today with a blizzard of

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Speaker 1: missile strikes on Ukrainian cities, seventy five missiles in total,

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Speaker 1: although half of those were intercepted and shot down, and

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Speaker 1: again the idea that he's hitting cities, he's hitting infrastructure,

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Speaker 1: these are not necessarily military targets, but trying to send

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Speaker 1: a message to Ukraine that he's going to continue no

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Speaker 1: matter what. And of seeing some headlines just cross a

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Speaker 1: reaction from the European Union that the Russia apparently targeting

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Speaker 1: civilians once again amounts to a war crime, ramping up

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Speaker 1: those harsh forms of rhetoric. What further response could we

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Speaker 1: see from NATO and particularly the US, now that we're

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Speaker 1: seeing this intense barrage coming from Russia, will certainly we're

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Speaker 1: expecting the grip of Seven leaders to speak today by phone,

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Speaker 1: that's in a couple of hours, and they will also

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Speaker 1: speak with the Ukrainian President, vladimirslin Ski as part of

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Speaker 1: that UH and you're going to see probably expressions obviously

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Speaker 1: of condemnation for the attacks that have happened today, a

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Speaker 1: promise again to stand united behind Ukraine UH and promises

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Speaker 1: to continue to send them weapons. The question is that

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Speaker 1: will NATO allies released and Ukraine the weapons that it's

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Speaker 1: been calling for. It's saying that it needs fighter jets,

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Speaker 1: it needs a Western made tanks, it needs much more

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Speaker 1: advanced equipment that it's getting, and you've seen NATO countries

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Speaker 1: being quite cautious about doing that and so far resisting

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Speaker 1: those calls. So it's really whether at this point make

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Speaker 1: NATO makes a decision to sort of send different kinds

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Speaker 1: of weapons into Ukraine. They're really kind of sanctioned rush

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Speaker 1: here as much as they can. There's not much less

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Speaker 1: else to do there. Um, So really expressions of unity

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Speaker 1: probably in the desire to keep supporting Kiev as much

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Speaker 1: as they can, and in those comments that the President

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Speaker 1: made that got so much attention about the threat of

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Speaker 1: nuclear armageddon from Russia. He also said that the US

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Speaker 1: is trying to find an r ramp for a president Putin.

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Speaker 1: Given the developments we've seen just over the weekend and

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Speaker 1: into this morning, what's the potential our ramp look like?

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Speaker 1: We've got about a minute left here, Rose, Well, that

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Speaker 1: is the question, how do you come back from this?

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Speaker 1: At this point? The question is does the Russian president

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Speaker 1: risk his own hold on parent his prestige at home.

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Speaker 1: He's backed himself into a corner with this war and

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Speaker 1: it's very hard to get out of it. He doesn't

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Speaker 1: really have the ability to hold onto territory. So what

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Speaker 1: doesn't of ramp look for because Ukraine won't see territory

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Speaker 1: in order to negotiate a solution to this? Does this

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Speaker 1: war just simply go into a semi frozen conflict through

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Speaker 1: the winter. Is each military tries to regroup, but right

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Speaker 1: now that there's very little that anyone can say really,

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Speaker 1: which is the white to navigate lat him a Puttin

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Speaker 1: out of this in a way that he can claim

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Speaker 1: that he got something. Thanks as always for your insights.

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Speaker 1: Ro's great having you on with us this morning. Rosalind Mathison,

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Speaker 1: our executive editor for International Government for Bloomberg News as

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Speaker 1: we continue to follow developments following this barrage of missile

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Speaker 1: attacks on key of and other cities in Ukraine from

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Speaker 1: Russia following the explosion on that bridge over Crimea, will

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Speaker 1: continue monitoring developments, particularly with those G seven talks set

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Speaker 1: to get underway in just a couple of hours. Looking

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Speaker 1: ahead to the market open this morning, futures are moving lower.

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Speaker 1: We've got SMP futures down by nine points right now,

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Speaker 1: DAL futures are down forty seven points. NASTACK futures are

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Speaker 1: lower by forty two points. No trading in the treasury

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Speaker 1: market for a federal holiday. Nimex screwed down a half

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Speaker 1: percent right now at nineteen of barrel, the Euro at

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Speaker 1: point nine seven zero three against the dollar. Bitcoin lower

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Speaker 1: on the session at about nineteen thousand, three hundred dollars.

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Speaker 1: You're listening to Bloomberg Daybreak Bloomberg eleven three oh weather

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Speaker 1: morning cloudy needs to be followed by afternoon sunshine and

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Speaker 1: hides in the upper sixties today, sunshine and near seventy tomorrow.

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Speaker 1: Partly sunny Wednesday with the high in near seventy Right now,

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Speaker 1: cloudy fifty three degrees. Broadcasting live from the Bloomberg Interacted

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Speaker 1: Broker Studio in New York, Bloomberg E Living Freed to Washington,

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Speaker 1: d C, Bloomberg one to Boston, Bloomberg What Old six,

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Speaker 1: one to San Francisco, Bloomberg non sixty to the country,

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Speaker 1: Sirius XM to the one nine T and around the

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Speaker 1: globe the Bloomberg Business and Bloomberg Radio dot com. This

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Speaker 1: is Bloomberg Daybreak six thirty on Wall Street. Good morning.

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Speaker 1: I'm Nathan Hagar and I'm Karen Moscow, and we're just

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Speaker 1: about three hours away from the open of US trading.

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Speaker 1: Time to the five things that you need to know

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Speaker 1: to start your Dave alto you buy. Interactive Brokers I

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00:21:02,520 --> 00:21:04,840
Speaker 1: v k R. Event Trader offers a new way to

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00:21:04,880 --> 00:21:07,800
Speaker 1: trade futures. Use event contracts to trade your opinion on

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00:21:07,920 --> 00:21:11,240
Speaker 1: yes or no questions and key CME futures markets. Learn

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00:21:11,320 --> 00:21:15,240
Speaker 1: more at event trader dot Interactive Brokers dot com. Up First,

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Speaker 1: former FED chairman Ben Burnanke, along with Douglas Diamond and

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Speaker 1: Philip div Vig have been awarded the two Nobel Prize

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Speaker 1: and Economic Sciences for research on banks and financial crisis.

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Speaker 1: The three will share that nine hundred thousand dollar Award.

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Speaker 1: Turning to the markets, Karen, futures are lower, but they're

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Speaker 1: off their worst levels of the morning. Stocks are coming

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Speaker 1: off three straight days of losses. Brian Jacobson, senior investment

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Speaker 1: strategist at all Spring Global Investments, says investors are betting

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Speaker 1: the Federal Reserve continues. It's aggressive hiking trail. I think

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Speaker 1: the Fed pivot that's not going to happen until they

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Speaker 1: take the blinders off right, and I don't think that

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Speaker 1: they really want to even contemplate changing their tune until

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Speaker 1: they get the four and a half percent with the

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Speaker 1: FED funds rates. All Spring Global Investments Brian Jacobson says,

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Speaker 1: if there is a broad economic recession, and it would

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Speaker 1: likely come in three well US Alian's chief economic advisor

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Speaker 1: and Bloomberg opinion contributor, Mohammed Allarian, is that going those

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Speaker 1: recession risks, and he's blaming the central Bank for what

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Speaker 1: he calls the very high risk of a recession. Not

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Speaker 1: only does it have to overcome inflation, but it has

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Speaker 1: to withstore its credibility. So yes, I fear that we

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Speaker 1: with a very high probability of a damaging recession that

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Speaker 1: was totally avoidable. Alian's Chief Economic Advisor and Bloomberg contributor

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Speaker 1: Muhammed Allarian made the comments on CBS Face the Nation

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Speaker 1: Catch the program Sundays on Bloomberg Radio. I mean, while

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Speaker 1: Karen investors will sort through some key economic data this week,

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Speaker 1: we get the minutes from the September FED Meeting p

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Speaker 1: p I on Wednesday and cp I Thursday. All this

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Speaker 1: just as earning season gets underway. Well, Nathan, investors don't

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Speaker 1: expect this earning season to be a very pretty one.

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Speaker 1: More than six respondence in the latest Bloomberg m Live

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Speaker 1: Paulse survey say this earning season will push the SMP

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Speaker 1: five D index even lower, but half of pull participant

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Speaker 1: been so. Also expect equity valuations to pull back even

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Speaker 1: further from their average in the past decade. And in

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Speaker 1: geopolitical news, Karen Kiev has been hit by explosions this morning,

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Speaker 1: two days after an attack on a key bridge between

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Speaker 1: Crimea and Russia. Ukrainian official says at least eight people

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Speaker 1: have been killed and dozens wounded in today's strikes. And

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Speaker 1: that's the five things that you need to notice. Aren't

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Speaker 1: your day brought to you by interactive brokers? And futures

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00:23:23,200 --> 00:23:26,439
Speaker 1: lower SNP Future is down about ten points down, Futures

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Speaker 1: down forty four, and nastagg Futures down forty five. Straight

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Speaker 1: ahead your latest of local headlines, plus a check of sports.

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Speaker 1: This is Bloomberg. Thank you Karen at six thirty three

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Speaker 1: on Wall Street. In This news update is brought to

430
00:23:41,520 --> 00:23:43,520
Speaker 1: you by the New York Community Trust. Your name will

431
00:23:43,520 --> 00:23:45,320
Speaker 1: live on as a champion of the causes you care

432
00:23:45,320 --> 00:23:47,639
Speaker 1: about for years to come through a charitable bequest to

433
00:23:47,680 --> 00:23:50,520
Speaker 1: the New York Community Trust. Learn more at philanthropist dot

434
00:23:50,640 --> 00:23:52,800
Speaker 1: n y C. Let's bringing Michael bar for a look

435
00:23:52,800 --> 00:23:54,720
Speaker 1: at what's going on in New York and around the world.

436
00:23:54,720 --> 00:23:57,359
Speaker 1: Good morning, Michael, Good morning Nathan. Two people were shot

437
00:23:57,720 --> 00:24:01,280
Speaker 1: and injured outside New York Congressman Leaves Elden's Long Island home.

438
00:24:01,680 --> 00:24:05,000
Speaker 1: His twin daughters were inside. One called nine one one

439
00:24:05,000 --> 00:24:07,639
Speaker 1: and the other called Zelden, who was at the Bronx

440
00:24:07,640 --> 00:24:10,520
Speaker 1: Columbus date parade with his wife Seldon, says it was

441
00:24:10,560 --> 00:24:14,640
Speaker 1: a frantic moment when Mikhaela had called Diane and I

442
00:24:14,760 --> 00:24:19,120
Speaker 1: she was in the upstairs bathroom locked in the way.

443
00:24:19,119 --> 00:24:21,720
Speaker 1: This started that two of them were at the kitchen

444
00:24:21,760 --> 00:24:26,639
Speaker 1: table doing homework and they hear gunshots. Congressman Zelden says,

445
00:24:26,680 --> 00:24:30,200
Speaker 1: I'm standing in front of crime scene tape in front

446
00:24:30,200 --> 00:24:33,119
Speaker 1: of my own house. You can't get me more outraged

447
00:24:33,280 --> 00:24:36,960
Speaker 1: than right now. It's unclear who the perpetrators or victims

448
00:24:36,960 --> 00:24:40,240
Speaker 1: are and why the shooting happened. North Korea said today

449
00:24:40,400 --> 00:24:43,840
Speaker 1: it's recent barrage of missile launches were tests of its

450
00:24:43,840 --> 00:24:47,480
Speaker 1: tactical nuclear weapons to hit and wipe out potential South

451
00:24:47,560 --> 00:24:52,280
Speaker 1: Korean and US targets. Missile and Agia Pacific expert On

452
00:24:52,560 --> 00:24:56,720
Speaker 1: kit Ponda says this is North Korea's way of showing resolved.

453
00:24:57,040 --> 00:24:59,960
Speaker 1: As the US and South Korea recently held joint military

454
00:25:00,040 --> 00:25:02,760
Speaker 1: the exercises, we are back in a familiar cycle that

455
00:25:02,840 --> 00:25:06,320
Speaker 1: we saw in seventeen and earlier, when we would effectively

456
00:25:06,359 --> 00:25:09,000
Speaker 1: see a spiral where the North Koreans would carry out

457
00:25:09,000 --> 00:25:12,000
Speaker 1: shows a force in response to shows a force by

458
00:25:12,000 --> 00:25:14,040
Speaker 1: the United States and its allies, which in term with

459
00:25:14,119 --> 00:25:16,840
Speaker 1: the traditional shows of force by the North Koreans. On

460
00:25:17,000 --> 00:25:20,359
Speaker 1: kit Ponda, with the Nuclear Policy Program at the Carnegie

461
00:25:20,400 --> 00:25:25,320
Speaker 1: Endowment for International Peace, demonstrations are spreading as Iranian women

462
00:25:25,600 --> 00:25:28,040
Speaker 1: are going head to head with security forces after the

463
00:25:28,119 --> 00:25:30,439
Speaker 1: killing of a woman who was arrested by the so

464
00:25:30,560 --> 00:25:34,239
Speaker 1: called morality police were incorrectly wearing her ad scarf. She

465
00:25:34,320 --> 00:25:38,640
Speaker 1: later died in police custody. Hackers targeted and Iranian state

466
00:25:38,640 --> 00:25:42,679
Speaker 1: TV newscast. A mask appeared on screen, followed by a

467
00:25:42,720 --> 00:25:45,960
Speaker 1: picture of the Supreme Leader of the Aetola surrounded by flames.

468
00:25:46,400 --> 00:25:50,199
Speaker 1: Former President Trump says the government documents, including classified and

469
00:25:50,320 --> 00:25:53,320
Speaker 1: top secret papers, retrieved by the FBI, should be returned

470
00:25:53,320 --> 00:25:56,720
Speaker 1: to him at Israeli. Last night in Mesa, Arizona, Trump

471
00:25:56,800 --> 00:25:59,800
Speaker 1: mentioned the government documents taken with the court approved search

472
00:25:59,840 --> 00:26:02,680
Speaker 1: more weren't from his Florida resort. There is no crime,

473
00:26:02,720 --> 00:26:04,520
Speaker 1: you know, there is no crime. It's not a crime.

474
00:26:05,400 --> 00:26:09,000
Speaker 1: And they should give me immediately back everything that they've

475
00:26:09,000 --> 00:26:12,600
Speaker 1: taken from because it's mine, it's my, former President Trump

476
00:26:12,760 --> 00:26:14,960
Speaker 1: global names twenty four hours a day on air and

477
00:26:15,080 --> 00:26:19,000
Speaker 1: on Bloomberg Quicktake, powered by more than journalists, analysts more

478
00:26:19,000 --> 00:26:21,520
Speaker 1: than a twenty countries. On Michael bar this is Bloomberg Naked,

479
00:26:21,640 --> 00:26:28,280
Speaker 1: Thank you, Michael, Almost six thirty six. On Wall Street,

480
00:26:28,320 --> 00:26:31,400
Speaker 1: John Stesshower has the Bloomberg Sports Update. Actually, in virtually

481
00:26:31,440 --> 00:26:33,359
Speaker 1: all season, the Mets were looking like a team that

482
00:26:33,440 --> 00:26:35,439
Speaker 1: was not going to have to play in the wild

483
00:26:35,440 --> 00:26:37,880
Speaker 1: card round, but a hundred and one wins not enough.

484
00:26:37,920 --> 00:26:40,679
Speaker 1: Atlanta got to buy Mets had to play the Padres,

485
00:26:40,720 --> 00:26:43,520
Speaker 1: and San Diego wanted. Decisive Game three at City Fields

486
00:26:43,560 --> 00:26:45,960
Speaker 1: six in up in the Mets in seven innings against

487
00:26:46,000 --> 00:26:49,119
Speaker 1: Joe Musgrove got one hit must Grove stat line the

488
00:26:49,160 --> 00:26:52,160
Speaker 1: best in postseason history, and a winter take all game

489
00:26:52,200 --> 00:26:55,360
Speaker 1: to San Diego. Hitting star of the series was Trent Grisham,

490
00:26:55,600 --> 00:26:58,200
Speaker 1: who batted one four in the regular season. He went

491
00:26:58,240 --> 00:27:00,800
Speaker 1: four for eight, two homers, scored five. Also made a

492
00:27:00,880 --> 00:27:03,640
Speaker 1: terrific CAx Last Night Buck Show, Walters first season as

493
00:27:03,800 --> 00:27:06,520
Speaker 1: Mets manager comes to an aggil for the players because

494
00:27:06,520 --> 00:27:08,879
Speaker 1: they put so much into it and we're such a

495
00:27:08,920 --> 00:27:12,159
Speaker 1: special group. You know. It's like I just told him,

496
00:27:12,200 --> 00:27:14,920
Speaker 1: you know, it's not always fair. You know, I don't

497
00:27:14,920 --> 00:27:17,240
Speaker 1: think I've ever had such a good blend of good

498
00:27:17,280 --> 00:27:20,520
Speaker 1: people and good players any Last Night Show, Walter asked

499
00:27:20,520 --> 00:27:23,560
Speaker 1: the umpires to check Mustro for a FOURIGN substance. They

500
00:27:23,640 --> 00:27:27,960
Speaker 1: rubbed Mustro's ears, found though evidence. The Division series start tomorrow.

501
00:27:28,000 --> 00:27:30,240
Speaker 1: Padres move on to play the Dodgers. The Yankees will

502
00:27:30,240 --> 00:27:33,119
Speaker 1: take on the Cleveland Guardians. Our oldest Chapman will not

503
00:27:33,240 --> 00:27:35,760
Speaker 1: be on the Yankees postseason roster. That was made certain

504
00:27:35,800 --> 00:27:38,879
Speaker 1: when Chapman didn't show up for last Friday's workout. The

505
00:27:38,960 --> 00:27:41,880
Speaker 1: surprising starts for the Jets and Giants continue. The Jets

506
00:27:41,880 --> 00:27:44,360
Speaker 1: finally won a division game, first in almost three years.

507
00:27:44,400 --> 00:27:47,920
Speaker 1: They blew out in Miami and met Life seventeen. They're

508
00:27:47,960 --> 00:27:50,080
Speaker 1: now three and two and the Giants are a shocking

509
00:27:50,240 --> 00:27:53,280
Speaker 1: four and one despite several injuries. They went to London,

510
00:27:53,320 --> 00:27:57,400
Speaker 1: came from two touchdowns down to stunned Green Bay twenty two.

511
00:27:57,400 --> 00:28:00,840
Speaker 1: Dominated the second half. Daniel Jones outplayed Aaron Rodgers. Last

512
00:28:00,880 --> 00:28:02,800
Speaker 1: night Baltimore kicked the last second field goal the Beats

513
00:28:02,840 --> 00:28:07,040
Speaker 1: to the Sinnatic. John Stash, Boomberg Sports. Thanks John. Seven

514
00:28:07,200 --> 00:28:09,000
Speaker 1: on Wall Street. Try to take a look at stock

515
00:28:09,080 --> 00:28:11,280
Speaker 1: some of the names moving in this pre market. Bloomberg

516
00:28:11,359 --> 00:28:15,399
Speaker 1: Radio and TV markets correspondent Pretty Gufta joins us this morning,

517
00:28:15,480 --> 00:28:18,040
Speaker 1: starting off with Samantalists downgrades, or maybe we can call

518
00:28:18,119 --> 00:28:22,760
Speaker 1: them down shifts since they're about automakers. Crety a good one. Nathan,

519
00:28:22,880 --> 00:28:24,640
Speaker 1: wait wait wait wait to kick off the morning? Um

520
00:28:24,760 --> 00:28:26,960
Speaker 1: quite quite well, I was wondering where you were going

521
00:28:26,960 --> 00:28:29,280
Speaker 1: with it, but a good one. Nevertheless, I wanna start

522
00:28:29,280 --> 00:28:31,960
Speaker 1: with those carmakers. Ford specifically, F is your taker down

523
00:28:31,960 --> 00:28:34,480
Speaker 1: four and a half percent in the pre market. General

524
00:28:34,520 --> 00:28:37,000
Speaker 1: Motors not far behind. GM is your taker down about

525
00:28:37,040 --> 00:28:39,800
Speaker 1: three point three percent in the pre market. You're right,

526
00:28:39,840 --> 00:28:42,080
Speaker 1: this does come from some analysts calls a pretty big

527
00:28:42,160 --> 00:28:44,120
Speaker 1: move on a day that features are only down about

528
00:28:44,120 --> 00:28:46,880
Speaker 1: three tons of one percent. Ford was downgraded to a

529
00:28:47,000 --> 00:28:50,240
Speaker 1: cell from a neutral over at ubs. They're citing weak

530
00:28:50,320 --> 00:28:53,000
Speaker 1: profit margins for the carmaker. GM on the other hand,

531
00:28:53,160 --> 00:28:55,760
Speaker 1: cut to a neutral from a by over at UBS

532
00:28:55,800 --> 00:28:59,240
Speaker 1: as well, seeing quote demand destruction. Forget this, Nathan, it's

533
00:28:59,320 --> 00:29:02,440
Speaker 1: e V segment after a strong start, and it's not

534
00:29:02,520 --> 00:29:04,280
Speaker 1: the only one we're talking about e V s though.

535
00:29:04,320 --> 00:29:06,640
Speaker 1: I want to throw in very quickly, Rivan R I

536
00:29:06,800 --> 00:29:08,960
Speaker 1: V N is your taker really taking it on the

537
00:29:09,040 --> 00:29:11,400
Speaker 1: chin today? Shares are down about six point three percent

538
00:29:11,480 --> 00:29:13,920
Speaker 1: in the pre market. They said they're going to recall

539
00:29:13,960 --> 00:29:18,240
Speaker 1: about thirteen thousand vehicles they delivered to customers after discovering

540
00:29:18,280 --> 00:29:21,840
Speaker 1: a minor structural defect. That is almost all of the

541
00:29:21,880 --> 00:29:23,960
Speaker 1: cars that they delivered, Nathan, and that's actually a really

542
00:29:23,960 --> 00:29:26,360
Speaker 1: significant deal because not too long ago they were just

543
00:29:26,400 --> 00:29:28,680
Speaker 1: starting to make deliveries to customers in the first place.

544
00:29:28,680 --> 00:29:31,680
Speaker 1: So uh, not exactly a sign of confidence here, And

545
00:29:31,760 --> 00:29:34,720
Speaker 1: speaking of week sentiments sort of moving across sectors here,

546
00:29:34,760 --> 00:29:37,440
Speaker 1: it looks like the chip sectors getting hit pretty hard

547
00:29:37,480 --> 00:29:41,280
Speaker 1: with these new restrictions from the US on China's access

548
00:29:41,280 --> 00:29:43,720
Speaker 1: to U S technology. It absolutely is, and you're seeing

549
00:29:43,720 --> 00:29:45,640
Speaker 1: this across the board. This was really last week's story

550
00:29:45,680 --> 00:29:47,600
Speaker 1: that has kind of bled in over the weekend. The

551
00:29:47,640 --> 00:29:50,560
Speaker 1: idea here being that President Biden isn't going to really

552
00:29:50,680 --> 00:29:54,200
Speaker 1: let up on this idea of restricting these exports to

553
00:29:54,280 --> 00:29:58,120
Speaker 1: chips companies. Remember, it's all pieces or technology that ultimately

554
00:29:58,160 --> 00:30:01,000
Speaker 1: goes into the chip sector in itself. The parts for

555
00:30:01,160 --> 00:30:03,040
Speaker 1: the ultimate chips, some parts of it come from the

556
00:30:03,080 --> 00:30:05,560
Speaker 1: United States, go to China, they're built into the chips

557
00:30:05,560 --> 00:30:07,520
Speaker 1: in China, and then come back to the United States

558
00:30:07,520 --> 00:30:09,280
Speaker 1: and the rest of the world to supply it. But

559
00:30:09,320 --> 00:30:11,680
Speaker 1: if you have that tiny piece that's exported from the

560
00:30:11,760 --> 00:30:15,400
Speaker 1: US no longer exported from the US, that massive Chinese

561
00:30:15,440 --> 00:30:17,960
Speaker 1: chip industry really takes a hit. And it's that idea

562
00:30:18,320 --> 00:30:20,640
Speaker 1: that's hitting the entire chip sector because even some of

563
00:30:20,680 --> 00:30:24,240
Speaker 1: these American companies have massive exposure to the Chinese sector.

564
00:30:24,280 --> 00:30:26,240
Speaker 1: So and video shares as you mentioned, n v D

565
00:30:26,400 --> 00:30:29,520
Speaker 1: A down one point two percent. Advanced mycre Devices A

566
00:30:29,640 --> 00:30:32,160
Speaker 1: m D not too far behind, down one point three percent.

567
00:30:32,400 --> 00:30:34,480
Speaker 1: And of course you have to look at applied materials

568
00:30:34,480 --> 00:30:37,080
Speaker 1: as well. A M A T is your taker there.

569
00:30:37,080 --> 00:30:39,760
Speaker 1: Those shares are down one percent. Nathan all Right, Bloomberg

570
00:30:39,840 --> 00:30:43,120
Speaker 1: Radio on TV Markets correspondent Crety getting us ready for

571
00:30:43,400 --> 00:30:45,720
Speaker 1: what's gonna be a very busy week when it comes

572
00:30:45,760 --> 00:30:49,240
Speaker 1: to inflation data as well as the kickoff of earning season.

573
00:30:49,240 --> 00:30:52,360
Speaker 1: Create as always, thanks for the look ahead to the market.

574
00:30:52,400 --> 00:30:56,560
Speaker 1: Open Futures moving lower as a whole. SMP futures down

575
00:30:56,720 --> 00:30:59,480
Speaker 1: almost nine points now down futures and down thirty two

576
00:30:59,760 --> 00:31:03,040
Speaker 1: now Stack future is lower by forty points. No trading

577
00:31:03,120 --> 00:31:05,640
Speaker 1: in treasuries this morning. It is a federal holiday and

578
00:31:05,640 --> 00:31:09,520
Speaker 1: observance of Columbus Day and Indigenous People's Day. Uh name

579
00:31:09,640 --> 00:31:11,560
Speaker 1: x Scrude is down to four tenths per cent at

580
00:31:11,600 --> 00:31:15,120
Speaker 1: ninety two dollars eight cents of arril. You're listening to

581
00:31:15,240 --> 00:31:24,320
Speaker 1: Bloomberg Daybreak Bloomberg eleven three oh weather morning clouds to

582
00:31:24,320 --> 00:31:27,000
Speaker 1: give way to afternoon sunshine in a high near seventy

583
00:31:27,040 --> 00:31:31,000
Speaker 1: degrees Today, sunny near seventy Tomorrow and Wednesday as well.

584
00:31:31,200 --> 00:31:37,680
Speaker 1: Right now cloudy fifty three degrees in Central Park. Markets

585
00:31:37,760 --> 00:31:40,880
Speaker 1: headlines and breaking news twenty four hours a day at

586
00:31:40,880 --> 00:31:44,280
Speaker 1: Bloomberg dot Com, the Bloomberg Business at and at Bloomberg

587
00:31:44,360 --> 00:31:53,720
Speaker 1: Quick Tape is a Bloomberg Business blash and I'm Cameron

588
00:31:53,800 --> 00:31:56,360
Speaker 1: Moscow and futures are lower this morning. We go to

589
00:31:56,360 --> 00:31:58,800
Speaker 1: the first Word breaking news dash for today's morning call,

590
00:31:58,880 --> 00:32:02,200
Speaker 1: and here's Bill Maloney l good morning, Okay, good morning, Karen.

591
00:32:02,240 --> 00:32:04,440
Speaker 1: That's right. Modest losses in the US huges right now

592
00:32:04,440 --> 00:32:07,040
Speaker 1: at DOWN Futures down fifty one point says tops drop eleven.

593
00:32:07,400 --> 00:32:11,880
Speaker 1: NASA futures declined by forty nine. The SPAWN market is closed,

594
00:32:12,040 --> 00:32:14,520
Speaker 1: gold is down fifteen, Oil is in the red, and

595
00:32:14,560 --> 00:32:17,720
Speaker 1: bitcoin is down by one percent. Hong Kong dropped three

596
00:32:17,760 --> 00:32:20,280
Speaker 1: percent overnight, while up markets are mostly in the red

597
00:32:20,320 --> 00:32:23,120
Speaker 1: this morning and not the Bank of England expanded its

598
00:32:23,120 --> 00:32:26,600
Speaker 1: emergency support for the UK bond market. Back in the US,

599
00:32:26,720 --> 00:32:29,480
Speaker 1: nothing to report on the economic front, and another news

600
00:32:29,600 --> 00:32:33,120
Speaker 1: Rivan says it will recall about thirteen thousand evs delivered

601
00:32:33,120 --> 00:32:35,800
Speaker 1: to customers. Those shares down six percent in the pre market,

602
00:32:36,040 --> 00:32:38,520
Speaker 1: and the first seven thirty seven Max flight took place

603
00:32:38,520 --> 00:32:42,400
Speaker 1: in China after almost four years. Wrapping things Upcraft Hynes

604
00:32:42,440 --> 00:32:44,240
Speaker 1: was raised to buy over a gold mit sex Ford

605
00:32:44,360 --> 00:32:48,000
Speaker 1: was cut this cell over at UBS Live from the

606
00:32:48,000 --> 00:32:50,880
Speaker 1: first breaking news test gon Bill Maloney, Karen, alright, Bill,

607
00:32:50,960 --> 00:32:53,680
Speaker 1: thank you under your live breaking news, over your Bloomberg Times,

608
00:32:53,680 --> 00:32:56,120
Speaker 1: squawk on your termin I'll ask you a w K

609
00:32:56,280 --> 00:32:58,840
Speaker 1: and that's a Bloomberg business flash. Now here's Michael Barr

610
00:32:58,920 --> 00:33:01,760
Speaker 1: with Moore on what's going on around the world. Karen,

611
00:33:01,800 --> 00:33:04,720
Speaker 1: thank you very much. Missile struck Kiv and other Ukrainian

612
00:33:04,760 --> 00:33:07,680
Speaker 1: cities early today. It comes two days after an attack

613
00:33:07,680 --> 00:33:11,320
Speaker 1: on the key bridge to Primeia that Russian President Vladimir

614
00:33:11,400 --> 00:33:15,040
Speaker 1: Putin blamed on Ukraine. In baseball, the season is over

615
00:33:15,200 --> 00:33:17,400
Speaker 1: for the Mats. They lost to the Padres six sip

616
00:33:17,800 --> 00:33:21,080
Speaker 1: in the deciding Game three of their NL wild Card series.

617
00:33:21,360 --> 00:33:25,160
Speaker 1: The NFL implemented new concussion protocols ahead of Sunday's games.

618
00:33:25,440 --> 00:33:29,600
Speaker 1: Miami Dolphin's backup quarterback Teddy Bridgewater took ahead yesterday was

619
00:33:29,640 --> 00:33:33,000
Speaker 1: evaluated for a head injury. The NFL and Players Union

620
00:33:33,040 --> 00:33:37,960
Speaker 1: adopted the new protocols after reviewing the response to Dolphins

621
00:33:38,000 --> 00:33:41,560
Speaker 1: quarterback to a tag of Oyola's concussion injury in football.

622
00:33:41,600 --> 00:33:44,120
Speaker 1: The Giants one in London, the Jets one, along with

623
00:33:44,160 --> 00:33:48,320
Speaker 1: the Patriots, Ravens and forty Niners. The Commanders lost Global

624
00:33:48,360 --> 00:33:50,600
Speaker 1: News twenty four hours a day on air and on

625
00:33:50,640 --> 00:33:53,080
Speaker 1: Bloomberg Quick Take power by more than twenty seven hundred

626
00:33:53,120 --> 00:33:55,880
Speaker 1: journalists and analysts in more than a hundred twenty countries.

627
00:33:56,080 --> 00:33:59,920
Speaker 1: Michael Barr, this is Bloomberg. The following commentary is from

628
00:34:00,040 --> 00:34:04,560
Speaker 1: Bloomberg Opinion. Working from home is not an urban escape patch.

629
00:34:04,800 --> 00:34:08,120
Speaker 1: I'm justin Fox, a columnist for Bloomberg Opinion. The shift

630
00:34:08,160 --> 00:34:11,440
Speaker 1: to remote work during the pandemic allowed people with professional

631
00:34:11,480 --> 00:34:14,560
Speaker 1: and management jobs to do them from almost anywhere, which

632
00:34:14,600 --> 00:34:17,680
Speaker 1: turns out to have been mainly big city neighborhoods and

633
00:34:17,760 --> 00:34:21,719
Speaker 1: close in suburbs. Recently released Census Bureau data shows that

634
00:34:21,760 --> 00:34:24,640
Speaker 1: the percentage of workers doing so from home last year

635
00:34:24,920 --> 00:34:28,280
Speaker 1: was highest in Central Washington, D C. And almost fifty

636
00:34:29,600 --> 00:34:33,280
Speaker 1: Next up the intermission in Castro in San Francisco, followed

637
00:34:33,280 --> 00:34:37,000
Speaker 1: by Seattle's downtown and some nearby neighborhoods also high on

638
00:34:37,040 --> 00:34:39,760
Speaker 1: the list, where Park Slope in Brooklyn and the suburbs

639
00:34:39,760 --> 00:34:43,000
Speaker 1: where Apple, Microsoft and Google are based. This could indicate

640
00:34:43,000 --> 00:34:45,400
Speaker 1: that there's still lots of pent up demand for housing

641
00:34:45,440 --> 00:34:48,920
Speaker 1: far from traditional job centers. Might also mean that cities

642
00:34:48,960 --> 00:34:52,560
Speaker 1: and suburbs have attractions beyond just proximity to the office.

643
00:34:52,840 --> 00:34:55,920
Speaker 1: I'm justin Fox. For more opinion, please go to Bloomberg

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00:34:55,960 --> 00:34:58,600
Speaker 1: dot com, Slash Opinion or O p I n go

645
00:34:58,880 --> 00:35:02,600
Speaker 1: on the Bloomberg terminal. These has been Bloomberg Opinion and

646
00:35:02,600 --> 00:35:05,480
Speaker 1: Bloomberg Opinion commentary is gonna be heard every weekday at

647
00:35:05,480 --> 00:35:08,040
Speaker 1: this time and terminal customers can read more at O

648
00:35:08,239 --> 00:35:11,520
Speaker 1: p I n go. It is six fifty on Wall Street,

649
00:35:11,560 --> 00:35:13,879
Speaker 1: and we turned to news and science and technology now

650
00:35:13,880 --> 00:35:16,759
Speaker 1: with the Bloomberg and j I T STEM Report, Brought

651
00:35:16,800 --> 00:35:19,600
Speaker 1: to you by the Bloomberg and j I T. The

652
00:35:19,600 --> 00:35:22,399
Speaker 1: New Jersey Institute of Technology n j i T makes

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00:35:22,440 --> 00:35:25,640
Speaker 1: industry ready engineers in more than twenty fields. If it's engineering,

654
00:35:25,680 --> 00:35:28,759
Speaker 1: it's at n j I T. What will you make

655
00:35:28,800 --> 00:35:30,600
Speaker 1: at n j I T. Learn more at n j

656
00:35:30,800 --> 00:35:33,080
Speaker 1: I T dot E d U And now here's what's

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00:35:33,120 --> 00:35:36,800
Speaker 1: making news in science, technology, engineering, and math. China is

658
00:35:36,840 --> 00:35:39,680
Speaker 1: stepping up efforts to contain COVID outbreaks ahead of the

659
00:35:39,760 --> 00:35:44,319
Speaker 1: Party Congress. Nearly cases are reported yesterday, the highest level

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00:35:44,320 --> 00:35:48,240
Speaker 1: in almost two months, fueling concerns about widening lockdowns rippling

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00:35:48,280 --> 00:35:52,640
Speaker 1: across financial hubs of Shanghai. News out of Rivan this morning,

662
00:35:52,640 --> 00:35:55,560
Speaker 1: the electric vehicle maker says it will recall about thirteen

663
00:35:55,560 --> 00:35:59,680
Speaker 1: thousand vehicles after discovering a minor structural defect. Rivan saying

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00:35:59,680 --> 00:36:03,080
Speaker 1: no injuries have resulted from this issue, and the crypto

665
00:36:03,200 --> 00:36:06,200
Speaker 1: management carousel just keeps on spinning. The latest in a

666
00:36:06,280 --> 00:36:09,040
Speaker 1: spade of C suite departures in the sector comes from

667
00:36:09,080 --> 00:36:12,839
Speaker 1: non fungible token marketplace open c, where Brian Roberts has

668
00:36:12,880 --> 00:36:15,279
Speaker 1: exited from the role of chief and agile Officer after

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00:36:15,360 --> 00:36:18,080
Speaker 1: less than a year in the job. The digital assets

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00:36:18,120 --> 00:36:21,000
Speaker 1: sector i she had two trillion dollars in values since November,

671
00:36:22,520 --> 00:36:26,160
Speaker 1: crushed by tightening monetary policy and blow ups a crypto firms.

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00:36:26,520 --> 00:36:28,799
Speaker 1: Trading volumes for n f t s, digital art and

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00:36:28,840 --> 00:36:32,799
Speaker 1: other collectibles recorded on blockchains have also sunk, and as

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00:36:32,800 --> 00:36:36,799
Speaker 1: the Bloomberg n j I T STEM report Nathan, Thank you, Karen.

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00:36:36,840 --> 00:36:39,200
Speaker 1: We're lying from the Bloomberg Interactive Broker studios where it's

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00:36:39,200 --> 00:36:41,200
Speaker 1: almost six fifty two on Wall Street time now to

677
00:36:41,280 --> 00:36:43,040
Speaker 1: check what's going on in d C. Some of the

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00:36:43,080 --> 00:36:45,880
Speaker 1: top stories in our nation's capital include the Winehouse monitoring

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00:36:45,880 --> 00:36:49,919
Speaker 1: developments in Ukraine. After President Biden's warnings of nuclear armageddon

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00:36:50,120 --> 00:36:54,320
Speaker 1: from Russia, National Security Council spokesman John Kirby tells ABC's

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00:36:54,360 --> 00:36:57,440
Speaker 1: This Week the US is not shifting its own nuclear posture.

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00:36:57,800 --> 00:37:00,319
Speaker 1: What the President was reflecting was that the ages are

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00:37:00,400 --> 00:37:03,440
Speaker 1: high right now, given what's going on on the battlefield

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00:37:03,480 --> 00:37:07,360
Speaker 1: in Ukraine and given the very irresponsible and reckless comments

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00:37:07,400 --> 00:37:10,479
Speaker 1: made by Vladimir Putin in just the last few days.

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00:37:10,520 --> 00:37:13,920
Speaker 1: But former Secretary of State Mike Pompey hotels Fox News Sunday,

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00:37:14,000 --> 00:37:17,120
Speaker 1: President Biden's rhetoric was reckless too. When you hear President

688
00:37:17,160 --> 00:37:19,960
Speaker 1: talking about armageddon as a random thought, just musing at

689
00:37:20,000 --> 00:37:22,960
Speaker 1: a fundraiser, that is a terrible risk to the American

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00:37:22,960 --> 00:37:24,719
Speaker 1: people if he truly believes that he ought to be

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00:37:24,760 --> 00:37:27,920
Speaker 1: out talking to us in a serious way. Also making news,

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00:37:27,960 --> 00:37:30,640
Speaker 1: the White House open to talks with North Korea, even

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00:37:30,680 --> 00:37:34,040
Speaker 1: after it's barrage of ballistic missile tests. John Kirby again

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00:37:34,080 --> 00:37:36,080
Speaker 1: on this week. We are willing to sit down with

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00:37:36,120 --> 00:37:40,040
Speaker 1: them without preconditions, at the negotiating table to work towards

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00:37:40,040 --> 00:37:44,279
Speaker 1: that end without preconditions. Mr uh Kim John mun has

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00:37:44,400 --> 00:37:46,520
Speaker 1: has decided not to take us up on that offer,

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00:37:46,560 --> 00:37:48,160
Speaker 1: and with less than a month till the mid terms,

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00:37:48,160 --> 00:37:52,360
Speaker 1: Democratic Congresswoman Elisa Slotkins calling for fresh blood in leadership.

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00:37:52,480 --> 00:37:54,800
Speaker 1: I'm one of just a handful of members of Congress

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00:37:54,800 --> 00:37:58,279
Speaker 1: who hasn't voted for Nancy Pelosias speaker UM, and I've

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00:37:58,280 --> 00:38:01,120
Speaker 1: said I think we need new leaders. Congresswoman Slotkin was

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00:38:01,160 --> 00:38:04,560
Speaker 1: on NBC's Meet the Press and Alian's chief economic advisor,

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00:38:04,640 --> 00:38:07,760
Speaker 1: Muhammad Larrian is repeating his warning of a policy mistake

705
00:38:07,800 --> 00:38:10,840
Speaker 1: by the Federal Reserve tipping the economy into a recession.

706
00:38:11,040 --> 00:38:14,000
Speaker 1: The Bloomberg Opinion columnists. Was a guest on CBSS Face

707
00:38:14,080 --> 00:38:18,520
Speaker 1: the Nation myth characterizing inflation as transatory. By that, they

708
00:38:18,560 --> 00:38:21,920
Speaker 1: meant it is temporary, it's reversible, don't worry about it.

709
00:38:22,000 --> 00:38:24,759
Speaker 1: That was mistake number one, and then mistake number two.

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00:38:24,800 --> 00:38:28,760
Speaker 1: When they finally recognize that inflation was persistent and high,

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00:38:29,200 --> 00:38:32,400
Speaker 1: they didn't act face the Nation, Meet the Press this

712
00:38:32,440 --> 00:38:34,359
Speaker 1: week in Fox News Sunday. Can all be heard every

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00:38:34,360 --> 00:38:37,600
Speaker 1: Sunday right here on Bloomberg Radio. Let's bring in Terry Haynes, now,

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00:38:37,640 --> 00:38:42,200
Speaker 1: founder of Pangea Policy. As we continue monitoring developments in Ukraine,

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00:38:42,320 --> 00:38:45,719
Speaker 1: this barrage of missile attacks from Russia on Kiev and

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00:38:45,880 --> 00:38:48,680
Speaker 1: other major cities. What kind of White House reaction, Terry,

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00:38:48,719 --> 00:38:52,959
Speaker 1: are you looking for after all this? Uh, good morning, Nathan.

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00:38:53,040 --> 00:38:55,200
Speaker 1: What what I'm looking for from the White House? Frankly,

719
00:38:55,480 --> 00:38:59,359
Speaker 1: is UH kind of stay the course, continue to uh

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00:38:59,400 --> 00:39:04,440
Speaker 1: support the Ukrainian Uh, the response to the Russian invasion

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00:39:04,719 --> 00:39:08,120
Speaker 1: and uh. And I think the rhetoric will not change,

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00:39:08,520 --> 00:39:12,680
Speaker 1: the resolve will not change. And Frankly, I don't expect

723
00:39:12,719 --> 00:39:17,240
Speaker 1: conditions on the ground in Ukraine to change a whole lot. Uh.

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00:39:17,400 --> 00:39:19,640
Speaker 1: You've got these sort of rocket attacks going on, but

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00:39:19,719 --> 00:39:22,960
Speaker 1: at the same time, the situation on the ground continues

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00:39:23,000 --> 00:39:25,520
Speaker 1: to favor Ukraine. And uh. And that's very good. Although

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00:39:25,560 --> 00:39:29,040
Speaker 1: I wouldn't look for a the White House or anybody

728
00:39:29,040 --> 00:39:31,120
Speaker 1: else to suggest that there's going to be some kind

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00:39:31,120 --> 00:39:34,279
Speaker 1: of quick victory for Ukraine. The President has gotten some

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00:39:34,760 --> 00:39:37,760
Speaker 1: round of criticism for talking about a threat of nuclear

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00:39:37,840 --> 00:39:40,520
Speaker 1: armageddon from Russia. The White House that sort of had

732
00:39:40,560 --> 00:39:43,480
Speaker 1: to talk that back a bit. Is this a big

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00:39:43,520 --> 00:39:47,800
Speaker 1: concern in Washington? Well, yeah, I think it is, frankly,

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00:39:47,840 --> 00:39:50,160
Speaker 1: and you you hear it an awful lot under the

735
00:39:50,280 --> 00:39:54,040
Speaker 1: radars as well. Uh, you know, this constant kind of

736
00:39:54,040 --> 00:39:56,600
Speaker 1: you know, Biden says one thing and the White House

737
00:39:56,640 --> 00:39:59,840
Speaker 1: walks back. This is going on for so long. You know,

738
00:40:00,080 --> 00:40:04,160
Speaker 1: don't have to uh spill out the details or former

739
00:40:04,239 --> 00:40:08,080
Speaker 1: examples for you, but you know, it behooves the White

740
00:40:08,120 --> 00:40:12,120
Speaker 1: House to to stay at the obvious too, you know,

741
00:40:12,200 --> 00:40:15,520
Speaker 1: have a precise message and not be in a situation

742
00:40:16,000 --> 00:40:22,280
Speaker 1: where the president's rhetoric then brings up the entirely logical

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00:40:22,360 --> 00:40:24,920
Speaker 1: question of whether or not our force posture has changed,

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00:40:24,960 --> 00:40:28,520
Speaker 1: whether our nuclear posture has changed, or anything else. Uh.

745
00:40:28,640 --> 00:40:31,680
Speaker 1: You know, there's credibility to the White House's credibilities at

746
00:40:31,680 --> 00:40:33,839
Speaker 1: stake as much as anything else, and so they've got

747
00:40:33,880 --> 00:40:37,200
Speaker 1: to get a handle on that. Is the concerned about

748
00:40:37,239 --> 00:40:40,200
Speaker 1: credibility something that could play into the midterm election now

749
00:40:40,320 --> 00:40:43,399
Speaker 1: just four weeks in a day away. Oh, I think

750
00:40:43,400 --> 00:40:46,719
Speaker 1: it's an absolute spice. But the there, you know, they're

751
00:40:46,480 --> 00:40:48,960
Speaker 1: the people that are concerned about Biden will continue to

752
00:40:49,000 --> 00:40:51,799
Speaker 1: be concerned about Biden, and the people that UH like

753
00:40:52,239 --> 00:40:55,040
Speaker 1: the policies that have passed so far, will continue to

754
00:40:55,120 --> 00:40:57,880
Speaker 1: like and prefer those. Uh. You know. The thing for

755
00:40:58,000 --> 00:41:00,480
Speaker 1: markets that I think everybody needs to under stand is,

756
00:41:00,520 --> 00:41:03,640
Speaker 1: regardless of which party ends up in the majority in

757
00:41:03,760 --> 00:41:06,960
Speaker 1: both houses, they're gonna be very small majorities. There is

758
00:41:07,000 --> 00:41:09,439
Speaker 1: not going to be controlled the way that so many

759
00:41:09,480 --> 00:41:12,240
Speaker 1: political people like to talk about it. There there won't

760
00:41:12,239 --> 00:41:15,799
Speaker 1: be control. What you'll get is pretty much the same same.

761
00:41:15,920 --> 00:41:20,239
Speaker 1: You'll get, uh, continued gridlock on most domestic matters, uh,

762
00:41:20,640 --> 00:41:25,160
Speaker 1: consistent spending. But you'll also get a continued unanimity in

763
00:41:25,200 --> 00:41:29,120
Speaker 1: foreign policy, whether it be China or Russia Ukraine. So

764
00:41:29,239 --> 00:41:31,160
Speaker 1: just for our last thirty seconds here, it sounds like

765
00:41:31,200 --> 00:41:34,360
Speaker 1: you're saying more of the same in terms of lack

766
00:41:34,400 --> 00:41:38,719
Speaker 1: of progress on any major policy initiative. Oh yeah, I

767
00:41:38,760 --> 00:41:41,000
Speaker 1: think so. You know, the you know, there's not going

768
00:41:41,080 --> 00:41:43,640
Speaker 1: to be a big, big sweep that that allows one

769
00:41:43,719 --> 00:41:47,040
Speaker 1: party to uh to assert some kind of control. And

770
00:41:47,080 --> 00:41:49,759
Speaker 1: even if even if if it were the Republicans, say,

771
00:41:50,320 --> 00:41:53,319
Speaker 1: you still have a democratic president in office. But the

772
00:41:53,320 --> 00:41:55,960
Speaker 1: the but the margins that that that are being looked

773
00:41:56,000 --> 00:41:59,319
Speaker 1: at by me and by others across the board really

774
00:41:59,320 --> 00:42:01,520
Speaker 1: are very small. All I mean, if there's a majority

775
00:42:01,520 --> 00:42:03,480
Speaker 1: in the Senate, for example, will be one to two

776
00:42:03,560 --> 00:42:06,880
Speaker 1: seats either way, certainly not enough to change much. And

777
00:42:07,080 --> 00:42:10,719
Speaker 1: uh yeah, probably excuse me, twenty seat at the most

778
00:42:10,800 --> 00:42:13,360
Speaker 1: majority for Republicans in the House, which again is not

779
00:42:13,520 --> 00:42:16,800
Speaker 1: very not very large, and you know your self to

780
00:42:16,880 --> 00:42:19,680
Speaker 1: count every vote. Thanks as always, Terry, good having on

781
00:42:19,719 --> 00:42:23,319
Speaker 1: with us this morning, Terry, founder of Pangea Policy. Read

782
00:42:23,360 --> 00:42:25,759
Speaker 1: more about what's happening in Washington on Bloomberg dot com

783
00:42:25,880 --> 00:42:28,680
Speaker 1: or on the Bloomberg terminal. Follow the latest on Bloomberg

784
00:42:28,800 --> 00:42:32,560
Speaker 1: Radio in the nation's capital, Bloomberg and one oh five

785
00:42:32,600 --> 00:42:36,120
Speaker 1: point seven FM h D two. Futures are moving lower

786
00:42:36,160 --> 00:42:39,840
Speaker 1: as we kick off a week uh dominated by inflation

787
00:42:39,920 --> 00:42:43,719
Speaker 1: data and the kickoff of earning season. Bloomberg Surveillance is

788
00:42:43,840 --> 00:42:47,399
Speaker 1: up next for Karen Moscow. I'm Nathan Hagar, and this

789
00:42:48,120 --> 00:42:49,040
Speaker 1: is Bloomberg